Wasting your time with things I find interesting, amusing, or enraging. Reinke does not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article, and has no relevant affiliations

‎”“Florida is a state of choice,” said Thalius Hecksher, global development chief for Apex Fund Services, who moved many of his operations to Palm Beach. “It’s organically grown. There’s no need to drag people down here. It’s a zero-income-tax jurisdiction.”” http://buff.ly/WszLB0 Should have done it year ago!!!

The city’s hedge-fund executives are flying south — and it’s not for vacation. An increasing number of financial firms, especially private equity and hedge funds, are fed up with…

–30–

Don’t forget FOUR insidious taxes that you don’t see: (1) the inflation tax — the FED has destroyed 99%of the value of the dollar in the last three or four decades; (2) the gas tax — gets added into every product sold and into every capital good used to make products, or deliver them; (3) the corporate tax — corps don’t pay tax, people do, they just pass it on; and (4) the estate tax — that turns productive assets into legal fees and schemes to avoid it as opposed to capital investment that improves society’s wealth — say goodbye to the family farm or a families’ small business. I’d assert that (a) the true tax rate is incalculable because it’s so well hidden; (B) it crushes the poor and middle class; and (c) some years we pay more than 100% of an annual year’s earnings in taxes! The loss of purchasing power means real savings goes down DESPITE rising account balances!!!!!!!!!

DES MOINES, Iowa (AP) — Republican presidential hopeful Mitt Romney, clearly irritated by a handful of hecklers amid supporters at the Iowa State Fair, insisted Thursday that “corporations are people,” a comment Democrats gleefully predicted would be a defining moment of his campaign.

*** end quote ***

I’ve tried to convince folks that the correct rate of corporate tax is zero.

(I think I could make a case for a 1% tax on gross receipts so the Gooferment could collect some un-fudge-able statistics. And, since “corporations” are a creation of the Gooferment, then any Gooferment intervention is just a fee fro their existence.)

Just last night, I was in a heated discussion about Exon Mobil. Taxes paid by them is merely wealth redirected from real people via pension funds to the Gooferment.

Sigh!

There is some validity to the argument that executive compensation is out of control. And corporations engaging in crony capitalism are bribing politicians and bureaucrats to insulate them from competition and secure “franchises”.

Socialists always want to control everything. This is no different. Hitler, Stalin, Mai. They all need control.

He went to the Division of Taxation in Providence on July 30 to deliver a check for $4,500 — all the money he had on hand. He asked if he could keep the pet shop on Newport Avenue open long enough to liquidate by selling off the animals. The tax representative said no.

The next day, he returned to file tax forms that were overdue. A representative told him that if he paid another $10,000, he would be allowed to reopen. He said he didn’t have the money. He asked what would happen if he defied the order and was told he could be fined and imprisoned. He left the office in tears, escorted out by a supervisor.

*** end quote ***

Make no mistake about it, the gooferment is a criminal gang. Heartless and money hungry. And, dont stand in their way.

In a perverse sort of a way, they are doing the fellow a favor forcing him out of business. A money losing business.

JUNE 11, 2009, 4:38 P.M. ET
IRS Weighs Rules for Taxing Private Use of Work Cellphones
By MARTIN VAUGHAN

*** begin quote ***

WASHINGTON — The IRS is weighing a proposal to deem one-quarter of employees’ use of work cellphones as personal use and therefore subject to tax as a fringe benefit.

*** end quote ***

Cellphone used to be a big exec perk. Congresscritters figured “punish the rich”. Except one of my favorite technology architectural principle came into operation — change happens; time silently alters the playing field — and now the law of unintended consequences operates. Cell phones are cheap and plentiful. Record keeping is expensive, error-prone, and useless. Perk is now a general pain. And, the biz doesn’t give them out for any other reason that to have a 24 hour work force without paying 24 hour wages.

Taxes are theft. Close the IRS. Shrink the gooferment. And, kill corporations! They are nothing more than secret tax collectors anyway.

Businesses pan tax crackdown plan
Say proposal to close loopholes will drive jobs out of the country
By Jon Ward (Contact) | Tuesday, May 5, 2009

*** begin quote ***

“Obama’s proposal will shove jobs and capital out of America and into foreign countries,” said Americans for Tax Reform, pointing out that U.S. companies already pay a higher corporate tax rate of 40 percent domestically than in many other countries, and that forcing them to pay this rate on profits they make internationally will drive operations out of the country.

“It’s a relatively simple matter for a U.S. company with an Irish subsidiary to become an Irish company with a U.S. subsidiary,” the anti-tax group said.

*** end quote ***

Politicians think that no one will adapt to their latest hair brained scheme.

I hope someone is keeping track of this little “project’s” results.

We should have a zero corporate tax rate. And, everyone would be moving here!